Flat outlook for Q2. And it will rise as we approach the end of the second quarter because this is probably a very conservative outlook and they will probably come in higher. It's all about daytraders and in the short term they will bring it down to 6 where it looks attractive again.
Looking ahead, the company said it expected $155 million to $161 million in revenue in its second quarter ending in April, on the low side of Wall Street forecasts, amid an industry-wide shortage of disk drives used in its products.
Canova said disk drive supplies may be tight for the next couple of quarters -- a nearly industry-wide complaint.
"We are more cautious on Q2 (second quarter) as a result," Canova told investors on a conference call.
Analysts had been looking for second-quarter revenue to range between $156 million and $164 million, according to Reuters Estimates. The average forecast was $160.5 million, near the high end of the company's revised outlook.